Property Overview: 40 High Lake Bay, Waverley Heights
Section 1: Key Characteristics & Appeal
This home at 40 High Lake Bay is a standout property defined by its generous proportions and established prestige within the highly desirable Waverley Heights neighborhood. Built in 1997, it offers modern construction while being situated on a mature, spacious lot of nearly 9,600 sqft.
The primary appeal lies in its consistent top-tier ranking across key metrics. With over 2,090 sqft of living space, it sits in the top 2% of homes in its neighborhood for size. Its assessed value of $560K similarly places it in the top 3% locally, signaling a premium property in an already premium area. This isn't just a large home; it's a notably larger and more valuable home than most in its immediate vicinity, offering a rare combination of ample indoor and outdoor space.
This property would ideally suit buyers looking for a established, high-quality home in a sought-after community, who value space and a proven investment profile. It appeals to those who want more than the neighborhood average—whether that's a larger backyard, more square footage, or a higher-caliber asset—without venturing into custom estate territory. It’s a smart choice for someone seeking a "best-in-class" property within a known and respected area, rather than a pioneering project in a transitioning one.
Section 2: Frequently Asked Questions
1. What does the "Elite" neighborhood ranking truly mean?
It means this home's living area and assessed value are in the top 1-3% of all 1,633 comparable properties in Waverley Heights. You're not just buying into the neighborhood; you're acquiring a property that is statistically among the largest and most valuable within it.
2. The home was built in 1997. What should I consider?
A 1997 build is newer than over 99% of comparable homes in Waverley Heights. This suggests major systems (roof, HVAC, windows) are likely more recent than neighborhood norms but are now entering a key maintenance period. Their condition and updates will be a crucial focus.
3. How does the lot size compare?
At 9,584 sqft, the lot is about 40% larger than the average on its own street and 60% larger than the Waverley Heights average. This offers significant privacy, landscaping potential, and space that is increasingly rare, even in established areas.
4. The assessed value is high for the street. Is that a concern?
The $560K assessment is above the street average of ~$504K, reflecting its larger size and premium positioning. This typically indicates a stronger potential resale value but can also correlate with proportionately higher property taxes.
5. Is this home a good value relative to its size and area?
The data suggests a strong correlation between its above-average size, land, and its above-average value. You are paying a premium for a premium asset. The value question hinges on the condition and updates inside, as the statistics confirm the underlying "bones" and location are top-tier.